ALPHA PRO TECH, LTD. (NYSEMKT:APT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
(b) |
Resignation of David B. Anderson from the Board of |
On March 10, 2017, David B. Anderson notified Alpha Pro Tech,
Ltd. (the Company) of his decision to retire from the Board of
Directors of the Company (the Board), effective as of March 31,
2017. Mr. Andersons decision is not due to any disagreement with
the Company on any matter relating to the Companys operations,
policies or practices.
(d) |
Election of James W.A. Buchan to the Board of |
On March 10, 2017, in connection with the resignation of David B.
Anderson, the remaining members of the Board, in accordance with
the Companys Bylaws, and upon the recommendation of the Boards
Nominating/Governance Committee, voted unanimously to elect James
W.A. Buchan to fill the vacancy created by Mr. Andersons
resignation, effective as of Mr. Andersons resignation on March
31, 2017.
Since August 2016, Mr. Buchan has served as a Senior Manager for
Bell Canada, a subsidiary of BCE Inc., one of the largest telecom
and media companies in Canada (Bell), where he provides
leadership and technical expertise to critical facility
operations. From September 2013 until August 2016, Mr. Buchan
served as Operations Manager for Bell. Prior to working with
Bell, Mr. Buchan worked as a manager for Urbacon, a contractor
for Bell, from September 2012 until September 2013, and as a
facility manager for Brookfield Global Integrated Solutions from
September 2009 until September 2012.
There are no arrangements or understandings between Mr. Buchan
and any other person to which he was elected to the
Board.Additionally, there are no related person transactions
involving Mr. Buchan and the Company that would require
disclosure under Item 404(a) of Regulation S-K.
The Board has affirmatively determined that Mr. Buchan is
independent under NYSE MKT listing standards and is otherwise
qualified to serve on the Board. Mr. Buchan will receive the
compensation described in the section titled Director
Compensation included in the Companys definitive proxy statement
filed with the Securities and Exchange Commission on April 29,
2016, including participation in the Alpha Pro Tech, Ltd. 2004
Stock Option Plan (the Option Plan). Upon the commencement of his
service as a director, to the Option Plan, Mr. Buchan will
receive a grant of non-qualified stock options to purchase up to
a maximum of 25,000 shares of the Companys common stock.
Item 8.01Other Events.
On March 16, 2017, the Company issued a press release announcing
Mr. Buchans election to the Board, to be effective upon Mr.
Andersons resignation. A copy of the press release is attached
hereto as Exhibit 99.1.
Item 9.01 Financial Statements and
Exhibits.
(d) |
Exhibits |
Exhibit No. |
Exhibit |
|
|
99.1 |
Press Release dated March 16, 2017 |
About ALPHA PRO TECH, LTD. (NYSEMKT:APT)
ALPHA PRO TECH, LTD. (Alpha Pro Tech) is in the business of protecting people, products and environments. The Company is engaged in developing, manufacturing and marketing a line of disposable protective apparel and infection control products for the cleanroom, industrial, pharmaceutical, medical and dental markets through its subsidiary, Alpha Pro Tech, Inc. Its products are grouped into three segments: Building Supply, which consists of construction weatherization products, such as housewrap and synthetic roof underlayment, as well as other woven material; Disposable Protective Apparel, which consists of disposable protective apparel, such as shoecovers, bouffant caps, gowns, coveralls, lab coats, frocks and other miscellaneous products, and Infection Control, which consists of face masks and eye shields. The Company also manufactures a line of building supply construction weatherization products through its subsidiary, Alpha ProTech Engineered Products, Inc. ALPHA PRO TECH, LTD. (NYSEMKT:APT) Recent Trading Information
ALPHA PRO TECH, LTD. (NYSEMKT:APT) closed its last trading session down -0.10 at 2.90 with 26,144 shares trading hands.